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something that controls the deficit properly and not arbitrary. >> brenda: toby, doesn't this basically give a blank check to washington saying we don't need a limit. at least when we have a limit we're forced to look at that number and realize how much we're borrowing. >> if that logic were true, they wouldn't have passed any of the spending stuff. first off, two countries in the world, united states and sweden who have a debt ceiling. people got rid of it, because what jonas is saying, it's political. and the second issue is, i don't want our economy held hostage and run by washington, right now, the buffoons in congress have more power over the economy with the, you know, stupid idea. if we give them this type of power we've hurt ourselves, kick the power away as far as i'm concerned. >> isn't this a dangerous way to enforce fiscal discipline? shouldn't we be doing it because we have a budget and stick with it like most americans have to? >> well, we do have a budget, but the budgets aren't being passed. they're not being adopted. look, anything that keeps the focus on reducing debt and d
together to strengthen the middle class, to shrink the deficit and fight for equal pay for men and women and help sure the safety our children, reform immigration law and establish equal rights for gay americans. he devoted several sentences to the battle against climate change which is notable considering some of the critics barely took on the issue the first term. the facts back that up. the president called for our divided congress to act. >> for now, decisions are upon us. we cannot afford delay. we cannot mistake absolutism for principle or substitute spectacle for politics or treat name-calling as reasoned debate. we must act. we must act, knowing our work will be imperfect. >>shepard: he defended the social welfare programs including medicare, medicaid, and social security. now we turn to ed henry live in lafayette park. the president drew inspiration from abraham lincoln and dr. martin luther king jr. in the speech. >>reporter: no doubt. it is no secret this is the first african-american secret and he happens to be sworn in on the same day we celebrate martin luther king jr. day.
'd never use the debt ceiling to negotiate. there's been three or four deficit deals reached during debt ceiling negotiations. that's what they've been used for in the past. in fact, you voted no on raising the debt ceiling in 2006, and some other things. and then to see him actually, he looked shocked that his loyal cadre of acolytes that someone would actually broach the subject that, you know, that he actually had a tough time answering. >> i think it shows the position he's in, though. he gets attacked from the right and the left. >> he doesn't get attack. the questions i want asked are never asked of him anywhere. >> he should come on "squawk." >> that's not going to happen. >> i'll get out. is that possible? >> no. >> i had a story but we'll talk about that one later. >> what's your story? >> we'll do it later in the broadcast. >> about nerds? >> what else would it be about? you want me to talk to here? i'm going to talk to here. coming up this morning's top stories, plus we're going to hop behind the wheel with nissan ceo carlos ghosn at the detroit auto show. first check this out
to cut down a dangerous deficit. why can't anyone in dc come to the table with a simple obvious proposal? >> obama: if we combine a balanced package of savings from spending on healthcare and revenues from closing loopholes we can solve the deficit issue. >> john: joining me now is wahini varra, california politics reporter for the wall street journal. thank you for your time tonight. >> thank you. >> does that mean that he's doing things right? >> he had decent approving ratings after a while. but after this effort to pass taxes, his approval ratings went up. he's more popular now than he has ever been in california, a little bit surprisingly. >> when you consider all the negative stereotypes that we heard groaning up. when i was growing up he was governor moon beam, and how unbalanced he was, quite the opposite of now. governor brown did a whole lot of cutting, are the people of california glossing over that? >> i think they may be. the most recent thing that happened was that californians raised taxes after jerry brown passed it. it's been in the news. that's what people are aware of.
choices to reduce the cost of healthcare and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. we will respond to the threat of climate change knowing that the failure to do so would betray our children and future generations we will defend our people and uphold our values through the strength of arms and rule of law. we the people, declare today that the most evident of truths that all of us are created equal equal, is the star that guides us still, just as it guided our forebears through seneca falls and selma and stone wall. for our journey is not complete until our wives our mothers and daughters can earn a living equal to their efforts. our journey is not complete until our gay brothers and sisters are treated like anyone else under the law. our journey is not complete until no citizen is forced to wait for hours to exercise the right to vote. our journey is not complete until we find a better way to welcome the striving, hopeful i
, immigration reform but there are leftover issues, such as the stubbornly high unemployment, a budget deficit he promised to cut in half by the end of the first term. it is a joyous day for the president but reality will kick in. real fast. chris? >> chris: ed henry reporting from the white house, ed, thanks for that. joining me now is a member of the president's inner circle. senior advisor david plouffe. and, david, welcome back to fox news sunday. >> thanks for having me, chris. >> chris: before we get to the inauguration and the president's second term i want to ask you about this terrorist attack in algeria. what is your latest information on how many americans were taken hostage, what is the status of those americans, and, what does the president think of the way the algerian military handled the situation? >> we have no additional information to report and the state department will do that. this is a reminder countries around the world share a joint threat from the terrorist organization, why we're so active about providing expertise and information and technology, to help them destroy
make the choices to reduce the cost of health care and the size of our deficit. but we reject the belief america must choose between caring for the generation that built this country and investing in the generation that will build its futur future. >> the commits we make with medicare and social security, these things do not sap our nation, they strengthen us. they do not make us a nation of takers, they free us to take the risks that make this country great. >> wow, look at the crowd. this is a full bar the day after all the natural balls. i'm not sure what's going on here. that was president obama yesterday using his second natural address to preview his aggressive agenda with a focus on immigration reform, gay rights and climate control. organizers estimate as many as 1 million people filled the national mall. as the commander in chief exited the stage, he paused to savor the moment. the tradition of natural balls continued into the night. they attended 10 natural balls last night that went quite late and the first lady holding just two, the lowest since the eisenhower admi
heights communications. kristi, to you first. candidate obama in 2008 promised to cut the deficit in half by the end of his first term. that hasn't happened. how about by the end of his second? >> well, john, i think what's important to remember is that as president obama is starting his second term, he's doing so in a remarkably strong position with high approval ratings and a great record in his first term. when he started, as we all know, the economy was in the ditch. he was able to successfully get us out of that at the point where last week the u.s. stocks closed at their highest level in five years and was able to pass historic health care legislation. by contrast, republicans have their ratings in the toilet. what that means is that there's probably -- it's going to bode well for their ability to compromise with him and for the president to get a second term agenda passed. >> chris, i suppose you see it somewhat differently. >> she addressed political positioning and i think that's what the second term will be about, political positioning rather than solving problems. i don't know
, as we mentioned earlier, getting the deficit on a sustainable path, trying to accomplish some of his investment agenda. obviously guns are going to be a part of the agenda. right now the main thing is to kind of stick at that visionary level. >> chuck, the president had a pretty good day for his first term on friday before it even started when republicans said they would break that principle of not raising the debt limit unless they had dollar for dollar spending cuts. tell me what you think that means for the resolution of the debt limit fight, which republicans are going to put that proposal on the floor on wednesday, and the president's prospect for resolving what has looked like an excruciating fight. >> it will certainly give us a nice market backdrop which is a nice thing to start off the administration's second term. i guess add 60% gain in the dow the first three years and 10% in the second -- in the last year, but i think that really what that means is that we have a good start, but it's all designed on the republican side to try to compel the democrats to come forward with
and dignity. we must make the hard choices to reduce the cost of health care and the size of our deficit area but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [cheers] [applause] we remember the lessons of our past. twilight years were spent in poverty and parents of a child with a disability have nowhere to turn. we do not believe that in this country that freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us, at any time, they may face a job loss or sudden illness or a home swept away in a terrible storm. the commitments we make to each other through medicare and medicaid and social security, these things strengthen us. [cheers] [applause] they do not make us a nation of takers. they free us to take the risks that make this country great. [cheers] [applause] we, the people, still believe that our obligations as americans are not just to ourselves, but to all prosperity we will respond to the
trillion of deficit reduction. lowered the deficit to 1.4% of gdp in 2022, stabilize the debt by 2015. it even further reduced discretionary spending. it builds on health reform savings and called for social security reform, and provided specific things to do to get social security solvent for the next 75 years here and also include fundamental tax reform that raise revenue. and raised quite a bit of revenue, 2.4 trillion of that 5.4 trillion would have been revenue, but revenue not required raising rates, but revenue that would come through reforming the tax code, reducing preferences, exclusions that are shot through the tax code, to actually be able to reduce rates and raise additional revenue. for anybody that wanted can you really do that, remember tax expenditures are running $1.2 trillion a year. we are spending more for the tax code than we are through all of the appropriate accounts of the federal government. this is what happens to the deficit in the share of gdp under the fiscal commission plan. you can see a dramatic improvement. the fiscal cliff plan, and what was just ad
. there needs to be cuts in this budget. it's too big, the deficit to my commanding gauges the economy. melissa: they were you are. don't move. i want to talk to you about what kneele just brought up. the debt ceiling debacle and those comments from chuck schumer. all of that after the break. the staggering death toll in the algerian hostage crisis keeps rising. reports say more than 80 people were killed including three americans. now some question why the algerian government acted the way it did. we have details on the latest developments. more "money" coming up. don't go away. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. mortgage. married. two great kids. he wants to protect his family with a $500,000 term life insurance policy. what do you think it'll cost him? a hundred dollars a month? sixty? forty? actually none of the above. john
at the biggest issue that we face of this era, it's the deficit. it's the trillion dollars of debt and the president didn't really talk about that. he talked about, we're not a nation of takers but that we've become a nation of debtors. >> the president clearly is a smart man, a smart politician. he's also a writer, a thoughtful person. if that is the speech, if the speech as ari described, why would he decide to give that speech? what's the political goal? >> this is the last time he's getting sworn in as president of the united states. that's why. i think it's martin luther king day. martin luther king was courageous. martin made this point earlier that perhaps the president had some sense of guilt about not doing gun control and that it took newtown to get him to do that and so this is the speech you get to give once and i think there may have been a sense he wanted to be aggressive because he could and because he had to set out what he believes he said, i'm not going to get all of it, don't let the perfect -- nothing can be perfect. but i do believe he decided, why not, be esse
make the hard choices to reduce the cost of health care and reduce the size of our deficits. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] we remember the lessons of our past, years spent in poverty, the parents of a child with a disability had nowhere to turn. we do not believe that freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us, at any time, may face a job loss or a sudden illness, or a home swept away in a terrible storm. the commitments that we make to each other through medicare, medicaid, social security, they do not sapped our initiative, they strengthen us. they do not make us a nation of takers, they free us to take risks to make this country great. host: the top republican in the senate responded to the president's address saying that he congratulated the president on his inauguration and that he wished him well in his duty to lead the u.s. at home and a
when you're running a merchandise trade deficits and current account deficits. these are the things that really matter. and they're just kind of big macros. so they divide them down to a single session or a quick abrupt move. but they're the real flows in the global economy that are going to matter going forward. >> yeah, all right. i'm staying long. i'm staying long, kevin. >> well, we think last year we gave it a bite on the cheek. but that's going to be a lot harder this year, joe. and one of the things you're pointing out are extremely high gdp. and so the big thing this year is to make the switch. the customers are now the employees. the employees are the future customers. so you've got to keep the growth and accelerate the growth in employment over the 1.25/1.50 that we're doing if we're going to keep the equity market going in the direction that it has been for the past two years. >> all right, kevin ferry. thank you. >> is that a phone ringing down there, kevin? >> yeah. someone is trying to get to their broker. >> it would ring and ring and ring. >> that must drive you craz
of all, we've had some deficit reduction. the president laid out a couple days ago. we had over $2 # trillion. we had a trillion and a half that came from previous actions, and then we added just a few days ago some further deficit reduction through increased taxes on the very wealthy of this country. we already begun to undertake deficit reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we've never tried that before. >> host: is it feasible? >> guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this is not a debt beat nation, really, and i think common sense is likely to prevail within the republican ranks. i know, if i might say so, if not firsthand, second hand, that the leadership within the house republican caucus, not all of it, i think some of it realizes that the potential consequences. >> host: if president obama won, so to speak on the fiscal clif
the debt ceiling. this is the question we posed. is reduce the federal deficit a worthy goal? this is interesting you may recall white house press secretary made news by stating that deficit reduction is, quote not a worthy goal onto itself. 77% of voters disagree with them and that includes large majorities of republicans, independents and democrats. what is your take on this? >> again i don't want to be a downer here, the question is what urgency to do they place on that. we had an election two months ago where there were two candidates, one was more focused on cutting the deficit and reducing our long term debt and one didn't think it was a big concern. the one who didn't think it was a big concern won the election. yes, voters seem to say that is an issue they agree with, but when it came to election day two months ago that certainly wasn't one of the top issues they voted on because they voted for the candidate who wasn't embody go it. >> heather: through his actions, as well. that leads to this, how f or if it should be raised? should the debt limit be raised again, 23%
, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support the president's program, but he's not going to get very much support at all among republicans for that. that's a good political point for him, but i don't see it going anywhere. as far as the illegal immigration or making it legal or whatever, reform, i would say there's an opportunity, people like marco rubio, for instance, and others, and also you have the chamber of commerce, you have some republican vested interest. i would say the budget and immigration are the two areas, spending and immigration. >> can he get through some simple things on gun control, if not a ban on assault weapons. that might be impossible with republican caucus, but universal background c
, there was no indication, i saw no incation, one reference to the deficit, a throwaway line said we have a big deficit. we have to do something bit, with you we still have to continue with all the spending. i didn't see anything about cutting back on spending. did you? >> no, david. in fact that was more a defense of government in the president's speech, overarching theme of his governing philosophy and one has not been about cutting any type of enlightment spending when it comes to medicare, medicaid and social security and cutting benefits those receive. lauren: i am president, hear me roar. rich edson, working in washington, d.c. you have to invest in tylenol right? an advil. you're coughing this stuff every day. david: no, these guys love it. you don't understand these guys are nerds. they watch this stuff. they open a beer and sit in front of the tv and love this stuff like it was a football game, right, rich? >> yeah. it is a city. there is something wrong with all of us here. david: i still love washington. we love you. thank you, rich. >> thanks, guys. lauren: if you ever sent out a beat you're ab
the things that really matter like how the deficit's been destroying the country since january 21, 2009. how zor owes is a hungarian term for class traitor and
it. gun safety, immigration reform. deficit reduction and those looming spending cuts that are a part of the sequestration. so that's lot before the president. but as major has noted this is a speech today that's not about specifics, but setting the tone and trying in some ways to push the reset button. >> thank you very much. the president and the first family are back at the white house this morning, but they started their day right across the street from the white house at st. john's episcopal church where our wyatt andrews is standing by this morning. >> scott, good morning. every president since franklin roosevelt, that's 80 years, has begun inauguration day here at st. john's church. the president arrived early this morning with the first lady, daughters malia and sasha, and the family of vice president biden. they came to a 50-minute prayer service. attended also by about 600 members of the parish and congregation. they also got some news when they heard that their reverend will be giving the benediction. the previous one had withdrawn after he gave an anti-gay sermon 20 years
of these issues. >> if the deficit can only be resolved in increasing taxes and cutting expenses. what expenses would you cut? >> i don't believe we should cut across the board. we should cut strategically. s there -- there is fat, no question about it. i would start there. there is no question that this defense budget is bloated. i'm speaking -- i can tell you the mayors of the country want to see less spending on defense and more spending on bridges and roads and highways and schools. investments that will bear dwiveds down the line. i also said -- i'm a democrat and this does not fly with some democrats but you have to look at some entitlements. you can be for entilettlement reform and not want to turn health care into vouchers. i can tell you mayors have gotten the support of pension reform. there's a number of things we can do that don't decimate the safety net but do, you know, make the kinds of investments. a balanced approach is the only way to deal with deficits at the level and debt at the level that we have in the nation today. it is the only path forward. >> should president obama i
in the details on immigration reform and gun control and deficit reduction at the state of the union next month when he goes back to capitol hill. >>heather: back in 2009 it was 20 minutes so hopefully he will stick to the same. then you, ed henry. >>gregg: now the inaugural theme called "faith in america's future." that was chosen by the joint congressional committee on inaugural ceremonies commemorting the united states perseverance in unity and marks the 150th year since the placement of the statue of freedom atop the new capitol dome in 1863 when crews worked without any pay at all to complete the project, the official inaugural program, launch and other activists is reflecting that theme. >> interesting insight. as we mentioned, today's official swearing in was not open to the public. why is that? according to a tradition dating back to the 19th century, public inaugurations have to be moved to the following monday if the inauguration day falls on a sunday. this has happen add few times before including in 1985 during the second inauguration of ronald reagan and when eisenhower in 1957 was
to quit spending money and try to cut into this deficit. >> reporter: house republicans see the debt ceiling deadline next month as one of the best ways early in the president's second term to force him to accept a new round of spending cuts and may have it on an incremental basis, one, two o three months and using that process to achieve more deficit reduction. >> former speaker of the house and republican presidential candidate newt gingrich. good morning mr. speaker. >> it's good to be with you. >> good to be with you. you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side and the fact is republicans have two much bet ear renas to fight over spending they have a continuing resolution which funds government which comes up at the end of march and they have the sequester,
spending cuts in order to get the deficit under control and there are a lot of people, including the head of the imf who say look at europe's example to say america, don't go too far, you could slow growth down to the point it doubles down on itself. it starts to make things worse because more people are out of work, not paying taxes, they become recipients of government aid and you're not generating economic growth, the kind that creates jobs, so i think that will be one focus. the other focus is trust. does anybody trust anybody anymore? do we trust our governments to make the right decisions, our employers to make the right decision? i hope i have more time to talk about it in between the swarees. >> i trust alli, and i trust yo. what is the one thing i need to know about my money? >> you need to know home sales and home prices are forecast to rise this year. deutsche bank's chief economist says 2013 will be the year of the house. >> really? >> and zillow says that home prices will rise. the year of the house. >> is that between the year of the rat and the year of the dragon. >>> 25 mi
in government spending which they want. he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the
overcame a 17-0 deficit against the dirty birds of atlanta. they finally locked it up for good in the fourth quarter when quarterback colin kaepernick found frank gore who rushed into the end zone. quite a game. >> in the afc, baltimore ravens quarterback joe flacco threw three touchdowns in the second half. the final blow was when the ravens' carey williams picked off tom brady in the end zone. it was the patriopatriot's firs playoff loss at home. >> and the super bowl in new orleans. you have the brother versus brother dynamic. and then ray lewis, his final season. got to the super bowl. willis is happy. >> that's a good story. i lived in baltimore for a couple of years. >> you worked for the ravens? >> my very good friend is the mayor. >> you've got a political hookup. you better get down there. >> you're going to see sunny in the good seats. in atlanta, a falcons fan is in the hospital this morning apparently was stabbed after the game outside the stadium by a 49ers' fan. the good news is he's not in critical condition. looks like he's going to be okay. the suspect ended up
to the deficit. our washington d.c. bureau spoke with california senator barbara boxer today about the prospects for action in a politically polarized capital. >> how do we get it done? you just keep on pushing and pushing. how did we ever get the right to vote for women? it took a long time. you know, the president said something that is so right. he said change doesn't happen unless the people get behind it. >> barbara boxer served 20 years in the senate and before that 10 years in the house. she admits congress has a reputation for gridlock, not action, but boxer notes she managed to pass a hard fought highway and transportation bill in part through the support of her constituents. she believes that strategy will work for gun safety. >> so we know if 90% of the people are behind background checks and they start ringing these phones off the hook here, we'll get background checks. >> boxer says she'll work with fellow california senator dianne feinstein on a tougher gun safety measure, a ban on assault weapons. boxer said gun safety and the economy are front burner issues, but she'd like to see
-14 falcons at the half. the 49ers would overcome a 17-point deficit and take the lead in the fourth quarter with frank gore scoring this touchdown to make it 28-24 and that lead held up as the niners held here on fourth down in the fourth quarter. bowman with the key deflection in the final moments. the inintoers win it 28-2 -- the niners win it 28-2 tour and will fogs the baltimore ravens. >> this will be the 40 newspaperrers first super super bowl appearance was lead in the 1994 season. >> i was there and remember it well. check out the scene in atlanta. the niners celebrating. abc7 news sports reporter mike shumann is in atlanta with reaction from the 9er. >> the 49ers are on their way to their 6th superbowl franchise history and they become the first team in nfl history to make it to the super bowl with a second year head coach examine quarterback. as you can imagine, everyone was ecstatic. >> it is amazing. it is amazing. it is something i have been dreaming of all my life as a kid, going to the super bowl, the super bowl. we're here. >> we have one more game left. we have to get it. i
. it's not like they were saying let them eat cake. there are big daunting deficits in both of these entitlement projects. 701 the new 65, we're all living longer. even randall stephenson going as far as saying you know at at&t we're actually going to need people to work longer because we're not going to have many people coming up to fill in the ranks. >> my view is on the one hand it's easy for ceos to say go ahead and work until 70. they're not, working in a coal mine. on the other hand, when social security began at 1935, full benefits kicked in at 65. we're paying more benefits to more people longer today. >>> boeing, 787 is grounded worldwide. battery issue being investigated. is the faa culpable in this, bertha, or not? >> i'm not sure it's the faa. i'm wondering in terms of the testing of the batteries. that appears to be the major issue that we are seeing and could you really test them? is there a problem with the lithium batteries when you've been flying plaens? >> robby, you're a brand expert here. what would you be telling boeing to do today? and do you think the
states right now is very disproportionately chirping. cities cannot and budget deficits. what happens when you something like the great recession quite cities all over the country having to scale back because they can't run budget deficits. exactly which you don't want to do a scaled-back local employment during the economic downturn. this is a huge thing. the department of justice program provides grants to local law enforcement to hire more police. the program could easily be 20 or 30 times its billion dollars a year size. it would be one of the most productive things the federal government could do to make progress in this area. >> we agree. i think what the professor just outlined in the latter part of what he said is go after illegal gun markets. were talking about people balanced or selling guns to felons, people engaged in gun sales that are illegal under any interpretation of the law and go after criminal people with records who are carrying guns illegally. that's been done in cooperation in chicago. i think the important thing is to find ways to go after the criminals here. b
as a package. >> the now defunct campaign will try to focus on deficit control and gun control. on the last issue republicans can see democrats in distress. chief among them senate majority leader harry reid. >> i don't think senator harry reid brings it to the senate floor because he has six democrats up in election in two years. >> this and other difficulties appeared miles away as mr. obama recited the constitutional oath that cemented the start of his new term. >> i did it. >> sasha was referring to the mix jum four years ago where the chief justice and the president said some of the words of the oath out of sequence prompting a do-over here at the white house a couple of hours later. as sasha said nobody messed up this time and as said a couple of moments ago, that's probably not too bad. >>> robert gibbs was an adviser to the obama campaign and served as the white house's first press secretary. welcome. >> thank you. >> you have seen it you have read it, characterize it. >> i think it's hopeful, and it talks about the values and the visions and the ideals th
to prioritize the government's bills. what's wrong with that idea? guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake deficit reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we have never tried that before. host: is it feasible? guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this is not a deadbeat nation really, and i think common sense is likely to prevail within the republican ranks. i know, if i might say so, if not firsthand, secondhand, much of the leadership within the house republican caucus, not all of it, i think some realizes the potential consequences. host: if
our debt to g.d.p., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have unanimity in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something. we have to act. and i hope we all agree, there is
think than getting the deficits under control. >> one thing i will say four years ago before his first inauguration, he went to the waup editorial meeting and he talked a good game. he knows you need to put this country on a sustainable path not just for the economy but also just for dealing with our lock-term debt and american competitiveness. does he use his leverage like clinton did with welfare reform to try to come up with an acceptable solution on this key issue because we're confronting the debt, the republicans in congress are focused on it. it's going to be an area where he will have some maneuverability in the next two years. >> does he have that leverage? on the one hand he's got a republican base that says give us those big entitlement changes or we won't give you anything but he's got a democratic party that's already going to think ahead to the midterm elections. you have new voices. senator elizabeth warren of massachusetts said i will not cut medicare. >> and chuck schumer said today that the senate would come up with its own budget. remember, the republicans chal elect
, deficits, gun control, immigration. a lot to do and not a great environment to get it done. but with us now, two men who may not have to worry too much about that, but who may give us great insights if possible to get great things done. barney frank, the former democratic congressman from massachusetts and steve latourette, republican from ohio. first to you, congressman, as the democrat, what does the president have to do differently in the second term to have a more cooperative, working environment. to you, sir, what does the republican party need to do to try to get some things done? >> i have to differ with the preface, john. >> i thought you might. >> barack obama -- look, this notion that partisanship has taken over. it began when barack obama became president. i was chairman of the financial service committee of 2007 in the bush administration and i worked very closely with hank paulson, secretary of the treasury. we worked on putting fannie mae and freddie mac to stop the lawsuits. george bush went to harry reid and nancy pelosi in december of 2007. he said the economy is slipping,
dollar deficits. >> reporter: presidential improvement. >> i don't look at my pension, and it's not as big as yours. so it doesn't take as long. >> reporter: presidential victory. a time to look back at sports teams, disaster, promises kept, most troops out of iraq, sports teams, disaster. upheaval. gadhafi dead. sports teams, sports teams, promises broken. guantanamo still open. disaster, tragedy. ft. hood, tucson. >> our hearts are broken by their sudden passing. >> reporter: colorado, newtown. >> for those of us who remain, let us find the strength to carry on and make our country worthy of their memory. >> reporter: fiscal debate, fiscal discord, fiscal destiny. sports teams, sports teams, sports teams. >> now, where were we? >> reporter: we were here, j
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